Esh enjoys record £300m order book after restructure

Aaron Morby 3 weeks ago

North of England-based Esh Group has revealed a 14% increase in turnover and a record forward order book in excess of £300m.

Esh chief Andy Radcliffe says business is now on sound footing for 2021
Esh chief Andy Radcliffe says business is now on sound footing for 2021

The strengthened position follows the conclusion of a three-year reorganisation programme after it suffered losses.

To repair the business, Esh withdrew from Scotland and the North West, and offloaded several non-core subsidiaries.

While the reorganisation resulted in a 2019 pre-tax loss of £2.9m, turnover increased to £212m, according to the latest published results.

Esh Group’s chief executive, Andy Radcliffe, said: “Following the reorganisation, our business is in a position of considerable financial strength, our liquidity remains very strong.

“While undoubtedly the pandemic has had some impact on our operations during 2020, our strategy has served us well and enabled us to successfully mitigate the impact of Covid-19 on our business.

“We now have a business that is leaner, more customer and market focussed, and which is aligned to resilient sectors of the market.”

He added that Esh has started 2021 in its strongest position for several years, with a healthy pipeline of work for private and public sector clients.

Radcliffe said: “Our £300m order book comprises sectors that appear to be resilient, and in some cases, stimulated, by the impact of the pandemic – as a result we expect to deliver healthy level of profitability throughout 2021.”

Esh, which operates across the North of England and Yorkshire, is contracted to build over 1,700 homes for affordable and private housing providers, including extra care.

With two private residential schemes totalling £21m in Newcastle City Centre and Leeds South Bank, Esh is due to commence work on £14m retail and hotel developments in Northumberland and North Tyneside.

Radcliffe said the civil engineering division, which recently secured a £75m utilities framework, has plot works, roads and sewers orders for major house builders in excess of £50m.

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